Donato Paolo Mancini
speaker
37 appearances
1 recordings
1 series
first heard May 2019
last heard May 2019
Donato Paolo Mancini’s voice in public audio — every appearance, attributed to the second.
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Appearances
As you say, markets really hate uncertainty, and markets have indeed been banking on the prospect of a trade deal later this week as they continue to climb throughout the first part of this year.
As you know, there was a big sell-off last year that
pushed equities lower, and it was quite brutal.
So when you have something as big as a trade deal between the US and China become pretty much uncertain after the president of the United States tweets in two iterations that that might not happen, of course, the reaction is not going to be easy or it's not going to be positive.
So obviously, now that the trade deal, you know, it
People say it's a tactic.
People say it might happen after all, and it's a tactic in negotiations.
So you've seen a resurgence in safe havens, like gold, for example, that added in today's session.
You've seen a resurgence in the Japanese yen, for example, that I think continues to add about 0.3% against the dollar.
So obviously, people are trying to sort of run for the hills, if that makes sense, now that there was this big sell-off today.
Absolutely.
Absolutely.
I think, you know, when you have something that is as essential and as big and as long-awaited as a trade deal between
the world's two largest economies and the prospects kind of go up in flames at some point it's inevitable that there will be some sort of run for safer assets obviously the other issues that you have for example chip stocks and apples and stocks like apple that are used to sort of herald big upswings or big downturns in the market um they've gone down a lot today and paradoxically they had led
the market rally so far this year, mainly because they're seen by investors as perhaps a cannery in a coal mine and they're just used to gauge sentiment and obviously they have, as companies themselves, as corporate structures, huge exposures to the Chinese market.
And obviously any complication in trade between the US and China would greatly, greatly complicate that further.
Absolutely.
I think the issue there is that any big dent in trade talks means could translate into corporate earnings suffering, right?
And if corporate earnings suffer, that is one of the first problems for the stock market, because it means that the companies are not as viable or they're not as able to be
They're not able to be as profitable as they used to be.
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